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Gold Silver and Oil Rose Again on Monday–Recap August 6th

August 7, 2012

Major commodities prices continued their rally and rose during yesterday: crude oil price including WTI and Brent oil rose on Monday; gold and silver prices also increased; natural gas Henry Hub (September delivery) also increased. The Euro edged up on Monday. Many exchange rates including the Canadian dollar also rose against USD.

Here is a summary of the daily changes in precious metals and energy commodities for August 6th, 2012:

Forex and Bullion Markets:

Gold increased by 0.43% to $1,616.2; Silver also rose by 0.22% and reached $27.86. During the month, gold rose by 0.1%; silver slippedby 0.18%.

The Euro/USD also edged up by 0.11% to 1.2401; further, the U.S Dollar also depreciated against many other currencies such as Canadiandollar by 0.11%.

Energy Commodities:

WTI oil price also increased yesterday by 0.88% to $92.2 per barrel;

Brent oil also rose by 0.48% to $110.07 per barrel;

Following these changes, the gap between Brent and WTI declined to $17.87/bbl. During the month, WTI rose by 4.7% and Brent oil by 3.9%.

Finally, the Henry Hub future (September delivery) rose by 1.04% to $2.91/mmbtu; the Henry Hub spot decreased to $2.9/mmbtu; the difference between the spot and future rose to $0.01, contango.